Business Laws and Practical Applications

The assignment analyzes the necessity of implementing business laws in practical scenarios, highlighting their benefits and protection against unforeseen circumstances. It emphasizes the impact of statutory and common laws and the government's role in law-making to represent public interest. The document also discusses legal solutions for business problems like contract termination and insolvency, providing justification for effective resolutions.

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Sources of Various Laws......................................................................................................1
P2. Role of Government in law-making and application of statutory and common law in the
justice courts................................................................................................................................3
TASK 2............................................................................................................................................4
P3 employment and contract law potential impacts upon business..........................................4
TASK 3............................................................................................................................................5
P5 justifications for the use of appropriate legal solutions........................................................7
TASK 4............................................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business law is very essential for ensuring ethical practices in activities which are
involved in industries. Therefore, it is very important to understand every rules and regulations to
make an environment suitable for working. These laws are present to protect the basic rights of
employee as well as employer and also reduces dispute between various private parties who are
interested to establish formal relation. This report includes description of various sources of law
along with that the implication of statutory and common law which are applied in many justice
courts. In addition, the potential impact of employment and contract law has been discussed with
leads to affect various business activities (Allen and Kraakman, 2016). Many legal solutions are
provided for solving several problems such as termination of contract and providing rescue from
liquidation and insolvency which are considered as threatening for every company. Numerous
legal solutions are recommended that are totally dependent upon legal system of a different legal
framework.
TASK 1
P1. Sources of Various Laws
Sources are the origin point from where various kinds of laws have been derived and are
implemented in practical scenario. It facilitates the government in governing particular territory
successfully. These sources are referred as sovereign or seat of power from where these laws get
it validity. There are mainly two types of sources which are international and national sources
that provides sources for statutory and common law.
International Sources
1. Treaties
In a country, the government can sign several international conventions and also treaties.
However, they are considered to be effective when they are implied and practice very well.
Several conventions are considered to be in force when all the required signatories of the
members are ratified for final text. Any international convention can be included in a statute
from where statutory laws are derived.
2. European Community Law
European law is a regulatory body which is formed by various nations of Europe in order
to regulate together in various aspects. It adopts all laws which are considered to be updated on
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time which includes treaties, provisions, directives, regulations, precedents and decisions. All
the member states provide numerous advantages and they follow all the rules which are related
to any of the activities which can be related to trading etc.
Other sources are known to be national sources which are derived from the country itself
and can be implied as common laws.
National Sources
1. Legislation
It is considered to the source which is prime for origination of various laws and it
includes many rules which are legally declared by particulate competent authority. It can serve
many purposes which can be regularising, authorising, and enabling, proscribing, fund providing,
sanctioning, granting or restricting any rule. The parliamentary legislature can frame many new
regulations which can be considered as the acts of Parliament an also provides amendments on
the laws which were introduced earlier. The legislature may provide authorisation of powers
which are associated with the law making processes for a country. The delegated Legislation
may include many statutory instruments, orders in particular councils and many by laws (Allen,
2017). Most of the powers of a legislature can be restricted by the constitution of a nation. Only
parliament has the power to legislate through various executives who leads to take decision on
all programmers which are related to legislature.
2. Case Law
All the judicial precedent can be based on the concept of doctrine of stare decision and it
can be associated with many jurisdictions which are completely based upon the System of Civil
Laws. Precedent is regarded as principles which are accumulated and derived from numerous
decisions. Judgements which are passed by judges are very important in many cases which are
recorded and further it becomes significant sources of many laws. The laws which are derived is
basically civil laws but this concept is implied on matters which are related to citizens of a
country. Precedent has an advantageous features which is mainly flexibility and also flexibility
which helps any judge for applying the justice rather than being restricted to law. This is
regarded as an important source of civil law that provides an advantage for effective handling of
all rules and policies.
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P2. Role of Government in law-making and application of statutory and common law in the
justice courts
Government has mainly three core functions which provide protection to the interest of
every citizen, provide a good governing structure in a country which includes effective rules and
regulations that can facilitate to provide a harmonious environment for living and progressive
path for its development. The role of government is very necessary in order to maintain the
correct and impactful structure of various legislative bodies.
Government maintains proper regulations of all those laws which are introduced in
parliament. It provides the practical implications of various rules in order to control the social
scenario of a country which mainly involves citizens and various trade practices which occurs
within nation or on international terms. It leads to provide basic rights of every citizen and along
with this, it represents the nation a unique identity which is very important to understand the
essence of laws which are originated from various sources and has certain aims which are needed
to be accomplished in order to move on a developmental path for betterment of society in many
aspects which can be economical, social and political (Beatty, Samuelson and Abril, 2018).
These factors lead to form a strong pillar for making any country strong in every perspective.
There are two types of laws which are statutory and common laws which have practical
implementation on various parts of bodies of a nation. They have an immense impact on the
country. Statutory laws include those systems which involve those kinds of principles which are
facilitated through statute. They are mostly known as the legislation which forms the body of a
particular rule. These are generally regarded as prescriptive in nature because judges use them a
source for taking particular conclusion from earlier decisions which were taken in cases that
were resolved earlier so that one can take certain ideas which would be beneficial for providing
effective decisions for present case scenarios. These are very substantive at operational level.
These are many based upon the statutes which are the past rules and regulations that has been
already implemented in order to provide a guidance for serving the concept of justice to the
victim and effective punishment for the culprit. It is generally a formal written document which
is the fundamental structure for the system which is based on the legal aspects
On the other hand common laws which are mostly regarded as the civil law is very
important for maintaining a good regulation of matters which can be associated with common
man of a nation. They helps to solved the matters which can harm the interest and basic rights of
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the citizens of a nation. They are mostly based on the judicial precedents which are already
recorded. These can be amended by statutory laws. They can be regarded as the case law which
mostly emerges from the decisions of a judge. The common laws considered to be instructive in
nature as it provides instructions for all the cases to form the basis of a decision (Bhatia, 2014).
At the operational level it follows the procedural approach which means certain steps has to be
followed in order to reach an effective decision for any cases.
TASK 2
P3 employment and contract law potential impacts upon business.
Employment and contract laws are considered to be most important laws which are
necessary to provide an efficient regulation of an organisation which is very important from
accomplishing the goals and objectives which directly or indirectly benefits them only.
Under the employment law, there are various policies regarding employer and employee
which aims to protect the interest of both from which they are serving particular company. When
their interests are easily maintained it provides a balance in the surrounding which results in the
productive environment that influences every individual to perform more than their limit and
resulting them an extra ordinary result. All the laws which are included in an employment act
makes sure that the basics rights of any employee is not being violated on the basis of any
grounds and provide them appropriate justice if it has happened so. All these rules are made to be
implemented in a company in order to make sure that every employee is provided essential rights
on the basis of which it serves to consider every individual with a respect and associated benefits
which are provided along with the designation (Business Law,2018). It covers every aspects
which are necessary to maintain the effective relationship of both the recruiter and worker. It
includes all the contracts which are related to their treatment, their working schedules and hours
which should be provided accordingly along with that, their annual leaves shall be decided in
order to provide them an advantage for working comfortably without any ill practices which can
be implemented by a company for the sake of their own benefits and can provide harm and
disadvantages to worker (Burnham,2016). Also, it provides effective remedies for loss which has
been faced by an employee in the form of compensation or claims which is needed to be given in
order to provide them justice.
With employment law all employees are safeguarded and provided security in working
arenas. Apart from these, they are provided several privileges related to health issues faced by
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workers. Also, recruiters are provided protection from any kind of data discrepancy from
conducted buy workers. According to compensation act employees are provided monetary
amount against mishap or accident occurred in the premises of company.
On the other hand contracts are the essential criteria of any business activities which is
needed to be assigned in order to follow certain criteria and limits that are necessary for
regulating the activities and leads to avoid various disputes which can results in other adverse
impacts that can lead to harm the company. It has various laws and regulations that enforces and
lead to smooth performance of the contract which has established certain kind of formal deal
which has to be completed. The condition of the contract helps to create an effective relationship
which is required in order to establish a coordinative and satisfying relationship which fulfils the
needs of both the private parties. The impact which is generated is completely dependent upon
the approach which has been applied in order to provide jurisdiction towards achievement of
ethical approach. The approaches which considered known to be common law which are known
to be applied by active legal system. This provision provide all the sources which required for
conducting successful contract and remedies for disputes which can create negative impact on
the relation of both the parties. It provides an opportunity for stating all the questions which can
be asked by any of the party for clearing any doubt or making the process more transparent.
There are various laws that are included in business law, such as,
 Health and Safety regulations: This act will be very helpful for JPM publication if they
implement it in their organization. This act assist in providing employees facilities related
to their health and safety. There are various acts which comes under this regulation, for
example, Health and Safety at Work Regulations 1999 which consists of risk
assessments, make arrangements to implement necessary measures, appoint competent
people and arrange for appropriate information and training.
 Equal Opportunities regulations: This regulation helps in treating all the employees of
JPM publication equally and with respect as well. Acts which are included in this
regulation are, The Equality Act 2010, in which it assists in prohibiting discrimination
among all the employees on any basis, for example, age, disability, gender, pregnancy
and maternity, race, religion or belief, etc.
 General Data Protection Regulation (GDPR): This act helps in protecting all the
important data which is essential for JPM publications. UK Data Protection Act 1998
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helps to expands the rights of individuals to control how their personal data is collected
and processed, and places a range of new obligations on organisations to be more
accountable for data protection. By the implementation of this act it will be easier for the
owner of the JPM publication to protect their important data.
TASK 3
P4 legal solutions for business problems
As per the given scenario, both the cases requires legal solutions to resolve their issues
that has been arisen in their business. Legal solution helps in providing the best as per their
requirements. There are various types of business problems which creates an obstacle in the
progress of a particular company.
Legal solution to Champions Ltd.
In this case, Champions Ltd. can choose to liquidate their business to pay their creditors
their amount. This will help them in resolving their case outside the court. Liquidation is a
process in which owner of the business sells all its asset to pay their due amount. In this case
their creditors are not liable to threaten Champion Ltd. The can mutually communicating with
each other in order to resolve it efficiently.
Legal solution to Amber Ltd
According to the case, Mr Anderson has taken up an ill legal step. Amber objected to that
proposal as Mr Anderson knows all highly confidential information related to the company. Now
he has resigned from his job. Now Amber Ltd. is seeking an injunction to prevent Mr Anderson
from commencing employment with or providing services to Beta or any other competitor. Here
Amber Ltd. can use following legal solutions to resolve their issues,
Negotiation
It is considered as the important remedy which can be proved to be very effective while
implementing the solution for terminating any contract. A contract source which establishes a
formal relation between two private parties for accomplishment of particular purpose.
Negotiation is a procedure in which a difference can be converted into unison of mind which
would help to resolve the problem of terminating any contract (Lakin, 2018). A contract can be
saved if negotiation could successfully be implemented which would provide them an
acknowledgement of what are the expectations which are needed to be fulfilled by both of them
in order to conduct a successful agreement. A negotiation provides each of them an equal
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opportunity for open questions in order to maintain the frankness and transparency in formal
relation which is very essential.
Prior Notice
If any of the party thinks about the ending of an agreement which is needed to be
implemented then a party should send a prior notice which would definitely leads to provide
them an information regarding the disinterest of them for further proceeding of the contract.
Prior notice provides another party a chance to serve them a solution of the needs which they
think regarding the fact that it would not be accomplished by the party in a contract. It also
provides them a chance for finding out alternative solutions for all problems which might be
occurring in the completion of an agreement. These notices are very important so that other
group can be notified on time and may be a common solution could be found for the problem.
Apart from these insolvencies and liquidation are the circumstances which can even lead
to terminate the whole organisation. Liquidation is defined as the scenario where the assets of
company gets converted into cash (Rugman and Verbeke, 2017). This is considered as the worst
scenario of any company. These can be fixed by applying various remedial solutions which are
formed by making several strategies which are described as below:
 All the financial strategies should be amended along with changing the structures of all
the debts.
 All the creditors shall be approached on time and effective negotiation shall be made in
order to provide them a relaxation of time for fulfilling all the debt which was credited by
them.
 Some advanced methods can be applied for the known effective cash flow and all the
controlling strategies which are made to regulate the flow.
 All the experts shall be appointed in order to improve the financial strategies of the
company that would lead to provide them an advantage of handling all the crisis and
would lead to make the structure stable (Loss, 2016).
There is a Company winding act which states that company can get wind up itself or by
court if it is not able to fulfil this liability towards creditors.
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P5 Justifications for the use of appropriate legal solutions
From the above given legal solution to Amber Ltd. there are various other regulations are
also there which can be very helpful for resolving the case. These can include, through
negotiation, or by the process of insolvency and liquidation respectively.
Negotiation is any important aspect for any disputes which can arise in a company or an
industry. These are necessary to be eliminated because it provides an advantage that it focuses on
the fulfilment of the needs and expectations of both the private parties from each other or with
the contract which is a mutual source for establishment of formal relation between them.
Contract are he mutual agreement for the fulfilment of the certain criteria which are needed to be
accomplished. But many times are high chances of the termination of contract which creates
many impacts further so to avoid these situations it is very necessary to perform negotiation
which is collective phase of many stages such as it leads to provide them a session where they
conduct a meeting and recites all their needs and requirement from the contracts and what are
their requirement. After that an open session of questioning rounds are conducted that leads to
clear the doubts which are necessary in order to achieve transparency. That develops a bond of
trust which is necessary for facilitating any contract order to accomplish an effective agreement.
Prior notice is very important to acknowledge other party regarding the disinterest in further
continuing the contract and one wants to end it. It leads to give another party a chance to resolve
any issue if they are facing because of any of the reasons or for further any contusion which can
be amended to achieve the desired result of a contract (Macaulay, 2018). This is the most ethical
way for ending up any agreements before which the party wants to achieve the desired solution
for the problem which they facing and which can resolve it for providing the smooth
accomplishment of the whole contract.
While insolvency and liquidation are very serious and threatening problem that every
company avoids and wishes to never fave in future For this a strong and structured financial
stability is required so that it can provide them an advantage which is very necessary for
maintaining the balance in the operations of a company. Various legal advisors should be hired
because they have practical knowledge for handling various problems which comes in the path of
financial status of a company. They are good analysers and can effectively analyses all the risk
which are associated with any kind of investment. The investment requires some advantageous
sources which is mostly suggested by them so that it can be very beneficial for the. Apart from it
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negotiation with the creditors are very necessary in order to provide a good time for fulfilling
the liability which is important in order to provide them a financial security on the debt which is
being borrowed from them.
TASK 4
P6.legal solutions based upon a different country’s legal system and/or a different legal
framework.
Legal solutions varies according to the legal system of the nation and their framework
which is assigned by the government in order to maintain the legal system in a country. Every
area in nation has different types of legal environment which is completely dependents on the
activities which are conducted in that area and the society who are the residential. In order to
maintain and regulate the legal system of an area it is very necessary for framing the laws which
are according to the surroundings and the type of people who lives. If the area has maximum
trade activated then the rule and regulations are very strict according to the environment of
market. Rules will be framed according to the types of activities which are performed. Therefore,
before making any law there is a need to perform a survey in order to understand the atmosphere.
Also, Unions are the best solutions which has a direct reach to the individuals by
registering a huge number of members. They are the authorised legal bodies who are established
under the act of government which makes them a legal identity whose aim is to serve individuals
who are their and also provides them an advantage for taking effective decisions for the various
problems which are present in the society, harming and violating the basic rights of an
individual. Their presence in the society is very advantageous as it provides protection to
individuals against various ill practices and also fight for the equal rights which is very important
for every one. They focuses on the development of their members in every aspects by providing
them various sessions of development and awareness against various kinds of issues which
mostly every individual is facing and are needed to be eliminated from the society
(MILLSPAUGH, 2008). Therefore, they are considered as the legal system which is acting as
very essential for the society.
Several legal institutions shall be established which provides them direct reach to the
citizen of the nation and provide them solution of various problems which is being faced by
individuals. They are the local governing bodies which should be established in every locality in
order to regulate the effective legal system and to maintain a peaceful environment which is very
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necessary for the development of the society in many aspects. These local governing institutes
are necessary in order to keep an eye on the surroundings and to make the implication of laws
very effective at the ground level.
Apart from these every citizen should be provided an opportunity for giving certain
suggestions for improving any kind of laws or introducing some new regulations which can help
them for several reasons. Also, it leads to connect the government and the individual with an
essence of responsibility towards nation which in turn leads reduce various malpractices which
being there in the society. For the successful implication of laws on practical terms it is very
necessary for taking suggestions from the citizens before framing any law (O'Brien, Powers and
Wesner, 2018).
CONCLUSION
It has been concluded that the business laws are very necessary to be implemented in the
practical scenario which has lead to provide many organisation benefits and protection against
such circumstances which are necessary to provide a stable surrounding for every firm. Various
laws has been proved to be impactful such as statutory and common laws which are very
important to be understood and their implication for the practical purpose. Also, the role of
government is very important in the law making process and it is considered to be the
representatives of the interest of the common people who are natives of the country and required
to be satisfied through various rules which are in favour for them. Apart from this various legal
solutions have been provided for the business problems such as termination of contracts and
insolvency and liquidity. Along with the solutions, justification has been provided for the
effective solutions.
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REFERENCES
Books and Journals
Allen, W. T. and Kraakman, R., 2016. Commentaries and cases on the law of business
organization. Wolters Kluwer law & business.
Allen, W. T., 2017. Our schizophrenic conception of the business corporation. In Corporate
Governance (pp. 79-99). Gower.
Beatty, J. F., Samuelson, S. S. and Abril, P. S., 2018. Business law and the legal environment.
Cengage Learning.
Bhatia, V. K., 2014. Analysing genre: Language use in professional settings. Routledge.
Burnham, W., 2016. Introduction to the law and legal system of the United States. West
Academic Publishing.
Frank, J. and Bix, B. H., 2017. Law and the modern mind. Routledge.
Lakin, L., 2018. Fundamentals of Business Law. The CPA Journal (pre-1986). 44.p.74.
Loss, L., 2016. Fundamentals of securities regulation. Bus. Law.39.p.1911.
Macaulay, S., 2018. Non-contractual relations in business: A preliminary study. In The Law and
Society Canon (pp. 155-167). Routledge.
MILLSPAUGH, P. E., 2008. FUNDAMENTALS OF BUSINESS LAW. American Business Law
Journal.17(3).pp.421-424.
O'Brien, C. N., Powers, R. E. and Wesner, T. L., 2018. Benchmarking and Accreditation Goals
Support the Value of an Undergraduate Business Law Core Course. Journal of Legal
Studies Education.35(1).pp.171-189.
Rugman, A. and Verbeke, A., 2017. Global corporate strategy and trade policy. Routledge.
Online
Business Law.2018[online].Available Through<https://www.hg.org/corp.html>
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